- December 15, 2025
Plans are moving forward for to build Brookhaven, a proposed 117-unit multifamily housing project in Palm Coast’s Town Center. When completed, a minimum of 60% of Brookhaven’s units will be for low- to moderate-income families.
The Flagler County Board of County Commissioners on Monday authorized the Volusia County Housing Finance Authority to issue tax-exempt mortgage revenue bonds in an amount not to exceed $9.5 million for the project.
This approval granted permission to the housing authority to issue debt within Flagler County; the county itself is not financing the bonds. The resolution was approved unanimously and without discussion as a part of the commission’s consent agenda.
“We’re allowing them, by our governmental authority, to pursue a tax-exempt status for their bonds,” said County Attorney Al Hadeed. “That means they can borrow at a lower interest rate, so that’s the advantage to the (Volusia County Housing Finance Authority).”
Now that the Volusia County Housing Finance Authority has permission to issue tax-exempt debt in Flagler County, it will need to find a lender. The Volusia County Council on Feb. 7 approved a resolution to move forward with financing the proposed multifamily project.
The Housing Finance Authority will likely need to supplement its bonds with grant funding, said County Administrator Craig Coffey, so it is difficult to estimate a timeline for the project’s start. The project will also need to meet the approvals and permits required by Palm Coast before proceeding, although Coffey said the project is on track to do so.
Brookhaven was originally envisioned as a two-phase project, the first of which would provide housing for the elderly. The second phase was planned as a multifamily unit. However, the project has since been redefined strictly as a multifamily project.
The County Commission approved the Volusia County Housing Authority to work within Flagler County in September. Coffey said it is not uncommon for the Volusia County authority, which is larger than Flagler’s, to work within other areas.
“This is important, of course,” Hadeed said. “It’ll be activity in the Town Center, when it’s been like a dry gulch.”
